On October 23, 2007, Seaway Valley Capital Corporation (the "Company") acquired all of the capital stock of WiseBuys Stores, Inc. ("WiseBuys"). In exchange for the WiseBuys shares, the Company issued to the shareholders of WiseBuys 1,458,236 shares of the Company's Series C Convertible Preferred Stock. The Series C Shares each have a liquidation preference of $4.00 (i.e. a total liquidation preference for the Series C shares of $5,832,944). Four of the Series C shares can be converted into a share of common stock at 85% of the market price. The holders of the Series C shares will have voting rights and dividend rights equal to the common shares into which they can be converted.
-------------------------------------------------- don't be greedy only, be smart greedy! !! I'm not recommending anything to buy or to sell !!
!! Dies ist keine Kauf- oder Verkaufsempfehlung !!
kindly regards
mz |